The Roadmap – Strategy Guide Part 4
Daniel (Dan) Bloom SPHR, SSBB
Empowering the transition to strategic HR operations in business
Welcome to the TLS Continuum Change Maestro’s Roadmap newsletter. A new edition will be released every Tuesday on LinkedIn. It is by nature an interactive newsletter. What do I mean? My initial intention was the development of a dialogue pertaining to the concept of a change roadmap. I was looking for interaction between those of us here as to what each phase so far meant to you. It appears as though you would prefer to be passive readers, so be it. However, let me reiterate that as we progress through the roadmap if you have something you want to contribute, feel free to comment on any issue that perks your thoughts.
?As part of his Ph.D. Thesis, Alexander Osterwalder created the Business Model Canvas in 2008. If we take the canvas, (It is available under Creative License for general use in the marketplace) it can be the basis for the strategy map for the roadmap. With this edition and the subsequent edition for the next seven weeks we will walk through the canvas components and its implications.
?Business Model Canvas Steps
1.??? Define the value proposition
2.??? Stakeholder Identification and inputs
3.??? Stakeholder relationships
4.??? Stakeholder Segments
5.??? Key Resources
6.??? Organizational resources
7.??? Revenue streams
8.??? Cost Structure
?Step 3: Stakeholder Segments
What would be great is every customer were identical but alas they are not. The next step in the strategy guide is to identify the various buckets the customers fall in. We need to use the term customer somewhat open-ended.
Your stakeholders’ segments represent who we are creating value for and who are our most valuable customers. It is also critical that we not use one-shoe fits all approach to the list. It is perfectly permissible for us to treat certain segments differently than others. Given that, what are our segments?
Segment 1: Internal organizational customers
Your value proposition is to create something of value for your organization. That is all fine and good, but does that mean the organization as a whole or specific functions? Does sales and marketing need the same value as manufacturing? Does sales and marketing need the same value as finance? I would believe not. Take the time to determine exactly what each function in your organization needs in the way of value from you.
Segment 2: External end-user customers
Your external customers come to you for a reason. It is the delivery on that need that brings value to them. Discover why they purchase from your organization. You want to create the most accurate job descriptions for your organization ask your customers what they expect from your human capital assets. Your external customers can be a driving force in your strategy development. Be sure they are included in all cross-functional teams.
Segment 3: External suppliers
In the segment above we talked about your end-users coming to you for a reason. You likewise go to certain external supplier for a reason. They bring you something of value. Take steps to determine what that value is and nurture it. Include them in your strategy sessions. Include them in your cross-functional teams. We have a symbiotic relationship with each other. They produce something of value which in turn is of value to your organization.
Segment 4: Major Customers
Ask finance for assistance. Identify the lifetime value of each of your major customers. Remember when I said earlier that it is alright to treat some customers differently than others. This is the group. Identify the total revenue gained from the customer and divide it by the number of years they have been doing so. That determines their lifetime value. The higher the lifetime value the more services they should receive.
Go out of your way to keep them happy. When I was selling books to corporate accounts I had two major clients that I delivered extra service to. In one case it was a hospital three miles away and I would hand deliver their orders to them. The other was a county library system located hours’ drive away that used to place orders and also come into the store twice a year. I used to load the large order in the back of my car and drive the hour to hand deliver their order.
At this point in the development of the strategy, we have identified our value to the marketplace, we have identified our stakeholders and what they contribute to the process and determined what our relationship with each of them looks like. ?This led us to determine what “buckets” those stakeholders fell in. These are the basic steps to develop a strong strategy of continuous process improvement.
?Next week we will look at the key resources we need to implement our strategy
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?Looking for the perfect model for improving your organizational processes? Order your copy of the TLS Continuum Field Guide - How the Theory of Constraints, Lean and Six Sigma will transform your operations and Program flow to be released in February of 2024
?About the author:?Daniel Bloom?knows HR and Change Management. He’s a speaker on transformational HR, a strategic HR consultant and trainer. Thank you for subscribing to this newsletter. The best strategy that I ever undertook was earning my SPHR and the Six Sigma Black Belt. You can take the same path with our Road to Organizational Excellence Seminar. Starting July 15,2024 you can start the same path as we present live our Road to Operational Excellence - The Human Capital Edition for the following six weeks.
For more information visit https://dbaiconsulting.com/tls-continnuum-master-seminars
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